Sumitomo Mitsui Asset Management Company LTD raised its stake in Marriott International Inc (NASDAQ:MAR) by 12.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,900 shares of the company’s stock after buying an additional 2,684 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marriott International were worth $3,155,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Sun Life Financial INC increased its stake in shares of Marriott International by 331.6% during the 2nd quarter. Sun Life Financial INC now owns 807 shares of the company’s stock worth $102,000 after purchasing an additional 620 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of Marriott International during the 2nd quarter worth $102,000. Fort L.P. acquired a new position in shares of Marriott International during the 2nd quarter worth $114,000. Tortoise Investment Management LLC acquired a new position in shares of Marriott International during the 2nd quarter worth $155,000. Finally, Newport Wealth Strategies Inc. acquired a new position in Marriott International in the 2nd quarter valued at $213,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.
Shares of Marriott International stock opened at $112.04 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.95. Marriott International Inc has a fifty-two week low of $112.01 and a fifty-two week high of $149.21. The firm has a market capitalization of $40.00 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 1.70 and a beta of 1.33.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, August 23rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Wednesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is presently 37.61%.
In related news, Director Frederick A. Henderson purchased 1,640 shares of Marriott International stock in a transaction on Thursday, August 9th. The stock was purchased at an average cost of $120.84 per share, with a total value of $198,177.60. Following the acquisition, the director now directly owns 1,640 shares in the company, valued at $198,177.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 12.99% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on MAR shares. Zacks Investment Research lowered shares of Marriott International from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. BidaskClub upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $134.00 target price on shares of Marriott International in a research note on Wednesday, August 8th. Morgan Stanley lowered shares of Marriott International from an “overweight” rating to an “equal” rating and set a $129.00 target price on the stock. in a research note on Tuesday, July 24th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $136.00 target price on shares of Marriott International in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $144.58.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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